SAN RAMON, Calif. – Jan. 30, 2018 – Chevron Corporation (NYSE:CVX) today announced a significant oil discovery at the Ballymore prospect in the deepwater U.S. Gulf of Mexico.

Ballymore is located in the Mississippi Canyon area of the U.S. Gulf of Mexico, approximately three miles from Chevron’s Blind Faith platform, in water depth of 6,536 feet. The initial Ballymore well reached total measured depth of 29,194 feet and encountered more than 670 feet net oil pay with excellent reservoir and fluid characteristics. A sidetrack well is currently being drilled to further assess the discovery and begin to define development options.

Jan 31, 2018- Shell Offshore Inc. (“Shell”) today announced one of its largest U.S. Gulf of Mexico exploration finds in the past decade from the Whale deep-water well. The well encountered more than 1,400 net feet (427 meters) of oil bearing pay. Evaluation of the discovery is ongoing, and appraisal drilling is underway to further delineate the discovery and define development options.

“Deep water is an important growth priority as we reshape Shell into a world-class investment case,” said Andy Brown, Upstream Director for Royal Dutch Shell. “Today’s announcement shows how, through exploration, we are sustaining a strong pipeline of discoveries and future projects to sustain this deep-water growth.”

Efficiency and Productivity Are Key in Keeping Gulf of Mexico Production Competitive

By Lori LeBlanc, LMOGA Offshore Committee Director for BIC Magazine

Necessity is the mother of invention, as the old saying goes. The Gulf of Mexico offshore oil and gas industry is proving that necessity not only produces bold new ideas but a renewed focus on efficiency and productivity.

Since crude oil prices plunged in late 2014, oil and gas producers have been grappling with a “new normal” in the economic reality of U.S. deepwater production. As we begin 2018, the industry recognizes that the $80 per barrel market we experienced just a few years ago will likely not reappear soon and that prices will hover more closely to $50 per barrel in the foreseeable future. And while deepwater production is a long-term investment, it is this modern commodity price environment that now comes into play as producers start new projects in the Gulf.

Director Lori LeBlanc visited with Secretary Ryan Zinke (right) after having several productive meetings at the U.S. Department of

Interior ﻿in Washington, D.C.

The offshore energy industry looks ahead to 2018

via Offshore Magazine

We are exiting a year in which the US oil and natural gas industry experienced a mix of unprecedented challenges and renewed hope for a brighter future. As the industry continued to endure sustained low commodity prices in 2017, historic storms pounded the Gulf of Mexico, flooding our nation’s energy corridor and disrupting the lives of millions of Gulf Coast residents.

But the industry also saw new and encouraging signals from Washington, D.C. in 2017, as the Trump administration began implementing its America First Offshore Energy Strategy and comprehensive energy legislation was introduced in the US Congress.

Chevron’s giant Big Foot tension leg platform (TLP) last week started its journey from a port in Ingleside, Texas to the Gulf of Mexico, following failed installation on the field back in 2015.

The Chevron-operated Big Foot field is located approximately 360 kilometers south of New Orleans, Louisiana, in water depths of 1,600 meters.

According to last week’s social media update by Port Corpus Christi, the platform left the Kiewit Offshore terminal on Tuesday, January 30. Kiewit constructs offshore platforms at its 500-acre fabrication facility in Ingleside, Texas.